Search This Blog

More firms closing down

By Jessica LimOVER 130 Singapore small business closed down last year, a nearly 25 per cent jump over 2007 and the highest number since the dotcom bust seven years ago, according to new Government statistics.

The deepening recession has apparently claimed everything from fruit stalls to shoe shops, and experts say more small companies - which usually have little margin for error - are poised to wind up in the coming months.

Almost 40 per cent of the 131 small business that shut in 2008 went belly up from September through December, numbers from the Ministry of Law revealed.

The late year surge - which accompanied the onset of the recession - pushed failings above the total for 2007. It marked the first annual increase since the dotcom bust of 2002, when over 260 businesses bit the dust.

No details were provided on which sectors were worst hit or the reason for the increase, but experts said it is a sign that the recession is taking hold.

The downturn began in earnest in September after stock markets around the world crashed, and the local housing and export markets withered.

Get link

Facebook

Twitter

Pinterest

Google+

Email

Other Apps

Comments

Popular posts from this blog

Hi all…I found this article on getting into Goldman Sachs. By the way, my professional specialization is management consulting for the financial services industry….so my life’s not only about slimming down and making money online…hahah and…I hope that makes me less bimbo-ish? hahaAnyway, for those who are fascinated about Goldman Sachs as “The Firm” to get into…the article below may prove useful to you :)====================================================Want to land a job at ‘The Firm’? Here’s how, by those who’ve done it before.1) Interview again and again (and again)Most front-office banking jobs involve a handful of interviews. Jobs at Goldman involve a dumper-truck full. We spoke to one former executive director at the bank, who joined as an associate back in the late 1990s. He had 47 interviews for the role.“Back in those days, there was a real feeling that hiring by consensus was the way to go,” he says. “Two people tried to veto me and I had to re-interview with them and conv…

By Shawn Langlois Published: Oct 31, 2017 1:35 p.m. ETSHARE101‘If you stick your head in the sand and pretend that this isn’t anything to be concerned about, you aren’t going to like what comes next.’ReutersWarren Buffett participates in the newspaper tossing challenge.Warren Buffett once described his favorite market indicator as “the best single measure of where valuations stand at any given moment” and that when the metric exceeds certain levels, like it did back in 2000, “you are playing with fire.”If that’s the case, investors might want to blow out that candle.Put simply, the Buffett indicator is the total market capitalization of all U.S. stocks relative to the country’s gross domestic product. When it’s in the 70% to 80% range, it’s go time. When it moves well above 100%, it’s time to tap the brakes.The metric sits at almost 139% at the moment, which is getting awfully close to the record 145% it hit during the peak of the dot-com bubble in 2000, the only other time the number …

The following article is based largely on the author’s summer internship experience at Banc of America Securities, as well as on interviews conducted with the other analysts at the bank.

Investment banking. For an eager job seeker, these two words conjure up magical images of skyscrapers silhouetted against the night sky, high-powered men in pin-striped suits making deals that change the course of the stock market, and glamorous lifestyles paid for by huge bonuses. Looking in from the outside, investment banking may indeed seem like a dream job. The mysterious and oh-so-enticing world of high finance lures the unwary with promises of big paychecks and even bigger opportunities, and hapless econ majors flock to Wall Street like bees to a honey pot. While many of them know what they are getting themselves into, having had internships or otherwise done extensive research, a fairly large portion enters investment banking with only a vague idea of what it entails or the sacrifices that…

A simple girl interested in sharing financial tips and news from the United States and Singapore. Many people focus on how to get rich. But some forget that their eventual objective is to be happy. And some also forget that the best way to be free from poverty and maintain wealth after getting rich is to be free from scams.